Hess Switches Track Under Pressure

John Hess says Elliott Management "got on the train after it left the station." Even if that is the case, the activist hedge fund certainly found its way to the engine car quickly.

Including Monday's 3.5% gain, stock in Hess Corp. has jumped 17% since Elliott's missive to the chief executive and the board calling for a shake-up became public in January. But the final stop on this particular journey looks a ways off.